Nokia Corp (ADR) (NYSE:NOK) investors are having rough days after the networking equipment company reported mixed results for the September quarter, and mostly weaker guidance. NOK stock has fallen nearly 12% since the earnings news broke.

In reaction, BMO analyst Tim Long lowered his price target to $6.00 (from $7.00), while reiterating an Outperform rating on NOK. The reduced target still represents a potential upside of 32% from where the stock is currently trading.

Long commented, “As we previewed in our Global Infrastructure Model update and as management reaffirmed, the global operator capex environment outlook has worsened for 2016, limiting revenue opportunities for Nokia’s Networks business. Nevertheless, we continue to like the €1.2 billion savings program and believe management may be able to find additional opportunities over time. Our 2016/2017 EPS estimates go to €0.16/€0.21 from €0.18/€0.29.”

As usual, we like to include the analyst’s trackrecord when reporting on new analyst notes. According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Tim Long has a yearly average return of 4.4% and a 52% success rate. Long has a 28.4% average loss when recommending NOK, and is ranked #679 out of 4188 analysts.

Out of the 19 analysts polled by TipRanks, 13 rate Nokia Corp stock a Buy, 5 rate the stock a Hold and 1 recommends a Sell. With a return potential of 46%, the stock’s consensus target price stands at $6.66.

Nokia is oversold. It seems true that this particular sector will face a tough period in the business cycle in 2017, but Nokia is well positioned to compete in this arena and turn profits in years to come. Its dividend right now looks sustainable and its patent portfolio still profitable. This is an opportunity to buy low if you are patient and willing to hold until late 2018. You can collect a 6% dividend in the meanwhile. I wouldn’t be surprised if the stock went as low as $4 per share before it slowly began recovering. I will be making an entry position here. This is merely my opinion based on my own analysis.